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SAN JOSE-A new 25-story Marriott hotel – estimated to be San Jose’s tallest building – has broken ground and is expected to open in January 2003. Scottsdale, AZ-based SCS Investors is the developer of the $102 million project. The San Jose Redevelopment Agency is supporting the 506-room project by putting up a little less than 10% of the cost of construction.

The design for the luxury business hotel was created by Hornberger & Worstell Inc. of San Francisco. Hensel Phelps Construction Co. serves as the general contractor for the 430,000-sf project at the corner of San Carlos and Market streets, which has been delayed by several months due to myriad minor delays.

Sources close to the deal anticipate the strong market continuing to thrive, providing the new hotel with plenty of occupants – at least during the week. Hotel occupancies and room rates have grown by double-digit percentages from last year. Many hotels in Silicon Valley routinely run at capacity on Tuesdays and Wednesdays, with business slowing down only slightly, through the weekend. Even with slow weekends, hotels in the valley are starting to rival those in San Francisco, which, with a combination of weekend tourism and weekday business traffic, is the strongest hotel market in Northern California.

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